Malaysia doubles tax deduction for corporate scholarship sponsorships
Malaysia’s Ministry of Finance has gazetted the Income Tax (Deduction for the Sponsorship of Scholarship to Malaysian Student Pursuing Studies at Technical and Vocational Certificate, Diploma, Bachelor’s Degree or Professional Certificate
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Cyprus extends first provisional tax deadline
Cyprus residents and companies earning non-salary income must pay provisional tax for 2026. The first instalment is due 31 July 2026, with an extended deadline of 31 August 2026 for those using online banking. Companies and individuals reporting
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Australia: ATO strengthens compliance action on over-claimed expenses, GST credits
The Australian Taxation Office (ATO) announced on 8 July 2026 enhanced compliance measures targeting businesses that intentionally overstate deductible expenses and GST credit claims. ATO is strengthening compliance action on businesses that
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Singapore: IRAS updates guidance on withholding tax for technical, management services
The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on the withholding tax treatment of payments for technical and management services under Section 12(7)(b) and Section 12(7)(c) of the Income Tax Act 1947, providing greater
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UK: Supreme Court rules deferred partner profits taxable as miscellaneous income under Section 687
The UK Supreme Court ruled on 17 June 2026 that payments received by partners under a deferred remuneration scheme are taxable as miscellaneous income under section 687 of ITTOIA 2005, upholding the Court of Appeal's decision in HMRC v HFFX LLP
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Taiwan reminds small businesses of tax withholding, reporting obligations
Taiwan has reminded small-scale businesses exempt from issuing uniform invoices that they must still comply with tax withholding and reporting obligations when paying salaries, rent or other types of income, even if their taxes are assessed by the
See MoreMalaysia gazettes deduction cap for companies leasing new EVs
Malaysia’s Ministry of Finance has gazetted Income Tax (Deduction For Rental Payments) (Electric Motor Vehicles) Rules 2026 on 26 June 2026. These rules provide specific tax incentives for Malaysian companies that lease electric motor
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Chile: SII clarifies carbon credits deductible only for own emissions
The Chilean tax authority (SII) has issued Letter Ruling No. 1529 of 22 June 2026, clarifying the deductibility of carbon credit purchases under amendments to Article 31 of the Chilean Income Tax Law that took effect in 2020. The ruling examines
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Nigeria rolls out presumptive tax regime for informal sector, bans cash and roadblock collection
Nigeria's Joint Revenue Board published the Presumptive Tax Regulations, 2026, which were originally issued in the Official Gazette on 13 May 2026 and took effect from 1 January 2026. The Nigeria Presumptive Tax Regulations, 2026, serve as a
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Hong Kong: IRD revises list of tax-exempt, concession eligible debt instruments
The Hong Kong Inland Revenue Department (IRD) announced on 30 June 2026 that it has released updated lists of Qualifying Debt Instruments (QDIs) and sovereign bonds eligible for profits tax concessions or exemptions as of 31 March
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Uzbekistan introduces tax exemptions for cultural, arts sectors
Uzbekistan has released Presidential Decree No. UP-103 of 2 June 2026, which introduces various measures aimed at the modernisation and expansion of cultural and arts sectors in Uzbekistan. To foster new talent, the government is establishing
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Saudi Arabia: ZATCA extends fines, financial penalties exemption initiative
Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) has announced on 29 June 2026 the Minister of Finance’s decision to extend the "Cancellation of Fines and Exemption of Financial Penalties Initiative" for taxpayers subject to all tax
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Dominican Republic: DGII outlines implementation timeline for Law 30-26 tax reforms
The Dominican Republic's Directorate General of Internal Revenue (DGII) has issued Notice 10-26, setting out the implementation schedule for key provisions of Law 30-26 and confirming that several tax measures will take effect from 1 July
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Argentina exempts crypto transactions, payment systems from bank credit and debit tax
Argentina’s Executive Branch has introduced a new exemption from the tax on debit and credit bank accounts for cryptocurrency transactions by amending Decree No. 380/2001 through Decree No. 475/2026, dated 17 June 2026 The decree updates tax
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Sweden proposes broader corporate tax deduction for sponsorship expenses from 2027
The Swedish government has submitted a bill to the Council on Legislation proposing to expand the corporate income tax deduction for sponsorship and similar expenses, with the aim of making the tax treatment of such costs clearer and more
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Kenya: KRA allows unsupported business expense claims for 2025 tax returns
The Kenya Revenue Authority (KRA) reminds all taxpayers that filing of income tax returns for the year of income 2025 is ongoing and must be completed by 30 June 2026. To facilitate smooth filing for the 2025 Year of Income, KRA has allowed
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CJEU Advocate General supports Luxembourg’s ATAD transposition on securitisation entities from interest limitation rules
The Advocate General (AG) Juliane Kokott of the Court of Justice of the European Union (CJEU) has issued her opinion in Case C-138/24, involving an infringement claim by the European Commission against the Grand Duchy of Luxembourg on 18 June
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Netherlands: Exit payments from departing cooperative members are taxable profit
The Netherlands Tax Administration’s Knowledge Group, responsible for specific corporate tax profit determination, has issued a position outlining the corporate income tax treatment of exit payments received by a cooperative from members who
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